Hedge funds and other large speculators have a lot riding on the outcome. The group has boosted short bets in 10-year Treasury futures to a record, according to Commodity Futures Trading Commission data through Feb. 13. That positioning could exacerbate the market moves in either direction.

... of trading for Asia-Pacific at futures brokerage OANDA. Since oil trading is conducted in dollars, a rise in the greenback makes fuel imports for countries using other currencies domestically more expensive, potentially curbing demand. The firm dollar outweighed a reported fall in U.S. crude inventories.

It was indeed a chop fest today with April lean hogs gapping higher, only to finish near where they opened; this after trading in a range of 1.425 on the day. First technical resistance for tomorrows session will come in from 71.15-71.35, the bears remain in control until a conviction close above this pocket.

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